They urge shareholders to vote against him, saying that they have taken steps to improve fund performance.
The S.E.C. has worked to improve fund disclosure, but most of the discussion has centered on fees.
The S.E.C. has issued proposals to improve fund governance, increase fee disclosure for investors and reduce trading abuses.
Improving fund prospectuses is a current focus of the Securities and Exchange Commission, which is studying ways to make them more readable and accessible to investors.
What other initiatives would improve fund governance? A. One is to nominate a chief compliance officer who reports directly to the independent board members.
Caryn Klebba, a spokeswoman for Pulte Homes, said in a statement that the company planned to use the funds it receives "to support its current operations and, when market conditions improve, fund future growth and expansion".
Their presence doesn't seem to help improve fund performance.
While such moves redress shareholder losses, they do nothing to improve fund governance.
The programme has been operating with reasonable efficiency, although recent efforts to improve fund flows need to be sustained and the programme needs to be fully transparent in accounting for its operational costs.
Because of it, Ms. Ast said she has learned ways to improve fund-raising.
